Mobile Banking Security Tips

Stay alert and feel safe with these mobile banking security tips!

Limit Personal Information

Limiting the amount of personal information you store on your smartphone will protect your identity in the event of theft or loss. All sorts of personal information can be used to steal your identity and commit other kinds of fraud.

Delete All Personal Details If You Change Phones

This can include emails, SMS messages, photographs and contact details. Criminals can use such information to pretend to be you and commit fraud against you. Most smartphones have an option to reset to factory settings, which will wipe all of your data from the phones memory.

Back Up Data Regularly

Syncing or backing up allows you to easily restore your data in the event that your phone is stolen, lost, damaged, wiped or corrupted by a virus or other malicious software. Set up your smartphone so that it backs up your data to a separate memory card.

Encrypt Data

Some smartphones allow you to encrypt your data using third-party software. Encryption secures your data if your phone is compromised.

Never Store PIN’s or Passwords

Do not try and hide PINs or Passwords anywhere in your phone. Criminals know what to look for and where. It is always best to memorise your security details and not record them anywhere, this includes ticking applications that remember security information automatically.

Install Smartphone Security Software

Once you connect your smartphone to the internet vulnerabilities from fake phishing sites as well as viruses increase. Strongly consider security software designed specifically for smartphones. Once purchased it is also important to keep protections and software up to date. Ensure you activate smartphone security settings and password protection.

Wipe Data Programs

Programs that remotely wipe data if you lose your smartphone are available and are useful to stop any personal data being accessed by persons who may intend to misuse it.

Your First Line of Defence

While auto locking and password protection may seem like a bit of an inconvenience at times, these security features are helpful in keeping your personal details safe.

Unknown Sender

Never open an attachment or download an application from a person or website that you don’t know. Criminals use infected documents and applications to spread their malware and compromise victim’s smartphones.

Turn Off Wi-Fi & Bluetooth

Wi-Fi and Bluetooth are the entry point to your smartphone. When activated they are constantly scanning for other signals to connect, criminals can exploit this to send malware to your smartphone. Turn off when not in use.

Only Use Wi-Fi Hotspots that are Reputable & Password Protected.

If you connect to a shared Wi-Fi hotspot you are completely dependent on the security of the host network. If unsecured, fraudsters can hijack it and fool your smartphone into connecting to theirs instead. Here they can trick you into divulging your personal details.

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Any advice on this site does not take into account your personal objectives, financial situation or needs. Please consider whether it is appropriate for you and read any relevant product terms and conditions or Product Disclosure Statements and our Financial Services Guide before acquiring any product. Credit products are subject to lending approval and terms and conditions are provided with loan offers. Conditions, fees and charges may apply.